Marqeta and Scalapay have agreed a partnership which is set to deliver BNPL capabilities across Europe.
This five-year exclusive collaboration aims to create a more seamless payments experience for merchants and consumers alike, aligning with the growing demand for flexible payment options.
The Marqeta platform’s flexibility enhances the shopping experience provided by Scalapay. It introduces a unique “Just-in-Time Funding” feature, where a virtual card is instantly created and funded for the exact loan amount once a Scalapay consumer is approved for their loan and completes a purchase. This virtual card can be used immediately for payments, both online and in-store, through a digital wallet, checkout, or point-of-sale (POS) system. This feature expands the range of partners where customers can finance their purchases.
Marqeta’s modern card issuing platform empowers its customers to create customisable and innovative payment cards, democratising access to card issuing technology. They offer a highly scalable, cloud-based payment infrastructure that enables customers to manage their card programs, issue cards, and authorise and settle transactions.
Scalapay, Italy’s first FinTech unicorn, provides innovative payment solutions for e-commerce merchants worldwide. Their approach allows customers to make purchases and pay later, spreading payments over 3 or 4 installments without incurring interest. Scalapay’s mission is to offer a global platform that encourages pleasurable and responsible consumption choices.
Simone Mancini, CEO of Scalapay, said, “We are constantly seeking new ways to leverage modern payment technologies with the aim of creating a seamless experience for our customers. Marqeta’s technical acumen and scalable platform are an ideal partner for us in supporting our partners to create better shopping experiences for their customers.”
Todd Pollak, Chief Revenue Officer at Marqeta, commented, “We’ve seen customer demand for flexible payments continue to grow, and we’re proud to power Scalapay as they create more seamless shopping experiences for their users and help their merchants increase adoption. As more companies embrace new checkout options, we’re well-positioned to continue our momentum in Europe and work closely with our customers to deliver high-quality, innovative payments offerings.”
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